Lee Cooperman is the CEO and chairman of Omega Advisors which is an investment firm. He believes that the prices of stock markets are accurate. According to him, another key factor is portfolio diversification when the matter is about beating the markets. The family office of Omega Advisors has diversified particular portfolios towards different industries involving communication services, healthcare, materials, technology, energy, and financial services. Out of the entire portfolio, the communication sector accounts for 11%, the technology sector accounts for 17% and the financial sector stands around 23%, respectively. Around 63.7% of the entire portfolio is represented by the top 10 holdings. During the previous quarter, different changes were made by Lee Cooperman in his portfolio to make it in accordance with the business setup and environment. Around 6 stocks have been sold out by the particular family office fund along with minimizing stakes in other 9 stocks. Contrary to this, 7 stocks were bought by the legendary investor and added to a particular 13 already existing positions. When the 3rd quarter of 2020 ends, the market value of the equity portfolio of Omega was approximately $1.017 billion. Let’s start with the top stock pick of Lee Cooperman.
Amazon.com is the biggest e-commerce giant of the world and is on 9th place in the list of holdings possessed by the family office portfolio of Omega Advisors. Amazon.com accounts for a total of 3.56% out of the entire portfolio holdings. The value of this stock investment by Leon Cooperman is $36.2 million. Lee Cooperman is working as an e-commerce giant in the industry starting in 2016. During the past 12 months, Amazon’s share rallied by 80%, maximizing the 5 years gains to around 480%. The current situation of social distancings due to the Coronavirus pandemic and the shift of customers towards online mediums have increased the prices of share in the past few quarters.
Amongst the favorite stocks of billionaire Lee Cooperman is specialty materials manufacturer and marketing firm Ferro Corporation. The family office of Omega Advisors started a position in the company during the Q4 of 2019. The stake of Omega has been increased in this specialty material firm by around 3% during the last quarter. During the last 3 months, Ferro Corporation’s shares have sharply recovered after gaining a huge selloff at the start of the year 2020. The revenue of the company fell during the Q3 by 33% in the whole year to about $241 million during the COVID-19 related challenges. Want to learn about other stock picks of Lee Cooperman, you can read Billionaire Lee Cooperman’s Top 10 Stocks.